Dhaka stocks declined on Tuesday due to profit taking share sell-offs by the investors following straight six trading sessions’ bullish trend in the market.
The key index of the Dhaka Stock Exchange, DSEX, declined to 4,526.49 points, shedding 0.84 per cent or 38.64 points. DSEX had advanced 144.52 points in six-day gains.
The key index of Monday increased to a three months’ high at 4,565.13 points.
As the market is on the rise for last three weeks which might have prompted investors to make some profit by selling shares of different sectors, market operators said.
Decline in share prices of heavyweight scrips was also observed on Tuesday, they said.
Heavyweights, MLJ Bangladesh, Grameenphone and Square Pharmaceuticals declined by 3.80 per cent, 2.68 per cent and 2.17 per cent respectively on the day.
The market recently showed a bullish trend following institutional investors’ increased participation in the trading before the Eid-ul-Fitr vacations, operators said.
DS30, the blue-chip index of the bourse, fell by 0.76 per cent, or 13.02 points, to close at 1,688.44 points on the day.
The Shariah index of DSE, DSES, finished at 1,047.96 points, declining 1.19 per cent or 12.68 points on the day.
Of the 293 shares and mutual funds traded on the day, 114 advanced, 149 declined and 30 remained unchanged.
Turnover of the bourse declined to Tk 681.37 crore on the day compared with Tk 790.18 crore in the previous trading session.
Recent rally of 144.52 points faded over profit booking in most of the Large Capitalised companies, IDLC Investments said in its daily market commentary.
‘As a result, broad index DSEX shrank by 38.64 points, but still holding up above the psychological level of 4,500 points,’ it said.
‘Additionally, Mutual Funds showcased robust performance over expectations on upcoming dividend declarations,’ said IDLC.
MJL Bangladesh led the turnover chart as its shares worth Tk 36.01 crore changed hands.
Grameenphone, Square Pharmaceuticals, Lafarge Surma Cement, Bangladesh Submarine Cable Compnay, Active Fine Chemicals, Bangladesh Shipping Corporation, Appollo Ispat Complex, BEXIMCO and Golden Son were among other turnover leaders.
AIMS First Mutual Fund gained the most as its share prices increased by 9.62 per cent, while Libra Infusions lost the most shedding 7.48 per cent.
-With New Age input
